Why is Central Freight Lines closing?

At the height of an unprecedented trucking boom, with spot prices and LTL rates at record levels, Central Freight Lines said it would shutter operations and be done with almost all of its freight pickups by Dec. 13. One of the main reasons was debt, according to the company president, and an inability to pay it down.

Who bought out Central Freight Lines?

On November 23, Roadway Services, Inc. and Central reach an agreement in principle for Central to be purchased by Roadway. Central receives 48-state interstate operating authority and expands into Oklahoma.

What is going on with Central Freight Lines?

Central Freight Lines is ceasing operations after nearly a century in business, the company announced Dec. 13. The Waco, Texas-based less-than-truckload carrier said it had started winding down operations and ceased picking up new shipments.

Is Central Transport shutting down?

Nearly, 2,100 employees will be laid off right before Christmas. Central Freight Lines is the largest trucking company to close since Celadon ceased operations in 2019.

Why are trucking companies shutting down?

Compliance Issues. Most trucking companies that have shut down in 2019 were smaller providers who made a conscious decision to suspend operations – simply due to the expense of integrating technical equipment required for regulatory compliance.

Central Freight Lines Closing

Is Central Freight owned by Swift?

Swift founder Jerry Moyes takes helm of Central Freight Lines.

Does Jerry Moyes own Central Freight Lines?

Jerry Moyes is stepping in as interim president and CEO of Central Freight Lines, which he owns, as part of a transition plan to “increase focus on streamlined customer services" at the less-than-truckload carrier.

Did people buy Central Freight Lines?

Central becomes the Southwestern Division of Viking Freight. An investment group led by a group of senior Central management purchases selected assets of the former Central Freight Lines from Viking Freight and reopens as a new Central Freight Lines.

When did Central Freight Lines go out of business?

After 96 years in business, Waco, Texas-based less-than-truckload (LTL) carrier Central Freight Lines is closing its doors. Central Freight announced that it is winding down its operations and as of Dec. 13 has ceased picking up new shipments.

What major trucking company just went out of business?

Trucking company Central Freight Lines Inc. will wind down its business in the coming weeks after failing to halt years of losses despite strong demand in freight markets during the pandemic, the company said Sunday.

How many locations does Central Freight Lines have?

Central Freight operates 1,600 power units from 65 terminals in the southern U.S. from California in the west to Florida and Virginia in the east. Central Freight was the 21st largest LTL in North America in 2021.

Is CFL Trucking shutting down?

Waco, TX — Trucking giant Central Freight Lines (CFL) is ceasing operations after almost 100 years in business. The less-than-truckload (LTL) mega carrier has begun informing its roughly 2,100 employees, including more than 1,300 truck drivers, it will begin winding down operations.

Is Central Freight unionized?

Founded in Waco, Texas in 1925 by W.W. "Woody" Callan, Sr., Central Freight Lines, Inc. is a non-union less-than-truckload carrier specializing in regional overnight and second day markets in the East Coast, Southeast, Southwest, Midwest, and West Coast and is now serving Mexico, Puerto Rico and Hawaii.

How many drivers did Central Freight Lines have?

CFL, which has over 2,100 employees, including 1,325 drivers, and 1,600 power units, is in discussions with “key customers and vendors and expects sufficient liquidity to complete deliveries over the next week in an orderly manner,” a CFL spokesperson said.

Who bought Swift Trucking?

Swift Transportation is a Phoenix, Arizona-based American truckload motor shipping carrier, part of Knight-Swift. With over 23,000 trucks, it is the largest common carrier in the United States. In 2017, Swift merged with Knight Transportation, also of Phoenix, effective September 8, 2017.

Who is the CEO of Central Freight Lines?

Central Freight Lines Taps Jerry Moyes as CEO.

Who bought Wilson Trucking?

Less-than-truckload carrier Central Freight Lines has signed a letter of intent to acquire Wilson Trucking Corp., also an LTL carrier, in a move to expand Central's service territory into the Southeast. Central and Wilson announced their plan Feb. 20 on the Wilson website.

Is Central Freight Lines publicly traded?

Central Freight Lines became a publicly traded company in 2003.

What is the oldest trucking company?

The Winton Motor Carriage Company of Cleveland, Ohio, founded in 1896, pioneered the trucking industry. In 1898, the company built its first truck capable of carrying cargo in an attached trailer (i.e., semi-trucks).

Do flatbed loads pay more?

Truck blog CDL 101 reported on average, flatbed truckers earn about $13,000 more annually than dry van truckers. Not only do they earn about 8 cents more per mile, but inclement weather may convince shippers to pay tarping surcharges to prevent precipitation from ruining the exposed load.

Who is the best trucking company to work for?

Who is the largest trucking company?

UPS is the largest trucking company in the world with revenues surpassing USD 71.86 billion last year. UPS is an American multinational package delivery and supply chain management company that was founded in 1907 initially as The American Messenger Company.